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Solana outperformed ethereum in its 24-hour volume on the decentralized exchange industry while most of its meme coins surged.
According DeFi CallsSolana (SOL) DEX networks handled over $845 million in the past 24 hours, bringing weekly volume to $5.17 billion.
ethereum (eth) handled $747 million in the same period. Its weekly volume exceeded $6.4 billion. The other top chains were BNB Smart Chain and Arbitrum, which processed tokens worth $3.86 billion and $2.32 billion.
Orca has been the largest DEX in the Solana ecosystem over the past seven days, followed by Raydium and Phoenix.
Sunny summer
Additional The data shows March was Solana’s best month ever, handling $60 billion worth of cryptocurrency during the month.
This was followed by July, when it handled $56 billion worth of coins, while ethereum processed $52 billion worth of coins.
Solana’s volume has surged due to the strong comeback of some of its meme coins over the past few days. The Popcat (POPCAT) token has surged by over 25% over the past seven days, making it the best-performing meme coin in the top ten.
Dogwifhat (WIF) has increased by over 9.4% in this period, bringing its market cap to over $1.72 billion. Cat In A Dogs World (MEW) increased by 16.2%, while Book of Meme increased by 8.5%. In most cases, cryptocurrency volume increases when tokens are in an uptrend.
The other notable news from Solana was the strong recovery of the non-fungible token industry. Data from Cryptoslam shows that Solana’s total nfts rose more than 35% in the past seven days to $16.7 million.
The number of buyers increased by 153% to 220,000, while the most popular nft collections were Sorare, DeGods and Solana Monkey Business.
Solana has also been in the news recently. Coinbase added ckBTC support to Solana while the developers launched PlaySolana, a portable gaming console.
Solana DEX and nft volume surged as the SOL token rallied. It has surged for the past six consecutive days, its largest swing since August 27.
